BITCOIN THIS IS GOING TO CHANGE EVERYTHING!

My Financial Friend

Introduction to Market Changes

A recent company acquisition is expected to change the valuation of every asset on Earth and signifies the direction of the future.

Bitcoin News and Market Trends

  • A Hong Kong legislator proposed adding Bitcoin to national reserves for financial security.
  • Bloomberg stated that the Black Rock Spot Bitcoin ETF is the greatest launch in ETF history, attracting more eyeballs to Bitcoin.
  • BitGo's CEO, Mike Belshey, mentioned that they are in talks with multiple corporate clients about adding Bitcoin to their balance sheets.
  • Over 70 companies have added Bitcoin to their balance sheets, buying millions of dollars worth.

Countering Bearish Views

  • Jacob King, a bear, claimed Tether has disappeared and that Bitcoin will collapse, but these claims are disputed as Tether is still active, and Micro Strategy's stock, while down, doesn't indicate a collapse.
  • Micro Strategy bought $200 million worth of Bitcoin, showing continued investment.

Big Buyers and Market Movement

  • Clean Spark acquired $170 million worth of Bitcoin.
  • Genius Group bought $10 million worth of Bitcoin for its treasury.
  • Micro Strategy and Tether also made significant purchases.
  • The market has buyers and sellers; the question is the balance between those wanting to sell and those wanting to buy.

Outlook and Investment Advice

  • Bitcoin is down but still up 100% to 120% on the year, indicating a potential for growth.
  • It might be a good time to dollar-cost average, considering the potential for further volatility.
  • The Fear and Greed Index is at 50, suggesting the market is not at an extreme.

AI and Its Impact

  • Nvidia bought Run AI for $700 million and open-sourced the software, likely to avoid antitrust issues and to give AI teams flexibility.
  • AI companies, including Google, Microsoft, Amazon, and Tesla, are spending significantly on AI, which will disrupt everything and make processes more efficient.
  • The impact of AI is hard to fully understand but is expected to be as significant as the internet and cell phones have been.
  • In times of prosperity and abundance brought by AI, the value of items that cannot be made more of, like Bitcoin, might increase.